Pt is approaching $600/oz ($576/oz). Both have gone up significantly this week. Would be cool if they broke $700/oz and $600/oz next week. Again, if prices are this high now, what will they be in the dead of winter?
that prices next winter will be what Russians let them be: as for SWC, after reading latest dines letter, we continue to need to patiently sit and wait while management regains confidence of street. don't you think?
Management has failed to even come close to projections for the last 2 years.
In the 1999 Annual Report management promised 525K-575K ounces for fiscal 2000.
Management lowered estimates for fiscal 2000 to 475K-525K in the 1st quarter report.
If we believe managements warning last month that production will be down from the 1st quarter, then SWC will have produced less than 210K ounces by the end of the first half. If management is to keep their revised promise of 475K ounces they will have to increase production a minimum of 33% over projected second quarter results of 95K-100K ounces.
If they are able to produce 265K+ ounces in the 2nd half and continue to expand production from the Stillwater mine in the 1st half of 2001 and thereafter,and keep on schedule at the East Bouldeer Mine, then they will have regained the confidence of the street. That's a big if and several quarters away.